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Kyocera reports strong first half despite challenges

Kyocera’s sales revenue for the first half to September 30 was up 15.5% but profit increased only slightly due to price increases in raw materials and a one-time cost of 7 billion yen from a US lawsuit.

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Screen Shot 2022 11 09 at 10.16.49 am“During the six months ended September 30, 2022, supply chain disruptions and price increases in raw materials, etc., continued due to the unstable global situation. In addition, the yen depreciated substantially in the foreign exchange market,” the Japanese print technology manufacturer said.

“At Kyocera, due to the contribution of investments in expanding component production for the 5G and semiconductor-related markets to meet robust demand, and due also to increased sales by the Industrial Tools Unit and the Document Solutions Unit, sales revenue of all reporting segments increased as compared with the six months ended September 30, 2021.

“Sales revenue of the first half increased by 135,835 million yen, or 15.5%, to 1,012,172 million yen as compared with the previous first half, including the impact of weaker yen (push up of approximately 103 billion yen as compared with the previous first half), marking a record high for a first half period.

“Profit increased slightly as compared with the previous first half, due to price increases in raw materials, etc., a decrease in sales of the Communications Unit, and a one-time cost recorded in connection with a litigation in the amount of approximately 7 billion yen, which largely offset the impact of increases in sales revenue and the weaker yen (push up in profit before income taxes of approximately 26 billion yen as compared with the previous first half).”

As compared with the previous first half, operating profit increased by 809 million yen, or 1.1%, to 76,488 million yen, profit before income taxes increased by 4,960 million yen, or 5.0%, to 104,311 million yen, and profit attributable to owners of the parent increased by 2,367 million yen, or 3.2%, to 75,586 million yen.

In September, Kyocera Corporation agreed to a $US49.9 million settlement to end a class action lawsuit by investors over the company’s 2020 merger with US electronics manufacturer AVX.

https://www.kyoceradocumentsolutions.com.au